Wednesday, February 12, 2014

Just ten days after delivering his most recent State of the Union address, where he described 2014 as the “year of action” – President Barack Obama kicked off the year by signing into law a $987 billion Farm Bill. In doing so, the president signed away $80 billion, over a ten-year period, in cuts to food stamp benefits. According to the Congressional Budget Office, the cuts will affect approximately 850,000 people, who will see their monthly benefits reduced by $90. But just a few days ago, President Obama stood before the nation and outlined his proposals designed to tackle poverty, income inequality and economic mobility. These proposals focused on job creation, immigration reform, tax policy reform, job training, and unemployment insurance reform. Yet days later, President Obama talks about the reforms and the billions of dollars the new law will save. The $987 billion Farm Bill appears to be another example of how public policy can exacerbate poverty while simultaneously advancing income inequality. Consider for a moment that while billions of dollars are cut from food stamps – the agribusiness interests will reap the benefit$.